Truist Financial Lowers Community Healthcare Trust (NYSE:CHCT) Price Target to $19.00

Key Points

• Truist Financial has lowered its price target for Community Healthcare Trust from $23.00 to $19.00, while maintaining a "buy" rating, indicating a potential upside of 27.99% from the current price.
• Shares of Community Healthcare Trust traded at $14.85 with a 52-week range between $14.20 and $20.87, and the company recently reported earnings per share of $0.50, missing estimates by $0.04.
• Significant insider trading activity was noted, with Director Horn R. Lawrence Van purchasing 11,815 shares, increasing his ownership of the stock by 15.41%.

Community Healthcare Trust (NYSE:CHCT - Get Free Report) had its price target cut by stock analysts at Truist Financial from $23.00 to $19.00 in a note issued to investors on Wednesday, MarketBeat.com reports. The firm currently has a "buy" rating on the real estate investment trust's stock. Truist Financial's target price suggests a potential upside of 30.05% from the stock's previous close.

Separately, Piper Sandler reaffirmed an "overweight" rating on shares of Community Healthcare Trust in a research report on Monday, August 4th.

Community Healthcare Trust Price Performance

Shares of CHCT stock traded up $0.15 during trading hours on Wednesday, hitting $14.61. 7,537 shares of the company's stock were exchanged, compared to its average volume of 243,884. Community Healthcare Trust has a 52 week low of $14.20 and a 52 week high of $20.87. The stock has a market cap of $414.49 million, a price-to-earnings ratio of -37.47 and a beta of 0.69. The stock's 50-day moving average is $16.27 and its 200-day moving average is $17.06.

Community Healthcare Trust (NYSE:CHCT - Get Free Report) last released its earnings results on Tuesday, July 29th. The real estate investment trust reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.04). Community Healthcare Trust had a negative net margin of 6.25% and a negative return on equity of 1.59%. The company had revenue of $30.13 million during the quarter, compared to analyst estimates of $30.22 million. Equities research analysts forecast that Community Healthcare Trust will post 1.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Horn R. Lawrence Van acquired 11,815 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was purchased at an average cost of $16.37 per share, with a total value of $193,411.55. Following the acquisition, the director directly owned 88,502 shares of the company's stock, valued at approximately $1,448,777.74. The trade was a 15.41% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.10% of the company's stock.

Hedge Funds Weigh In On Community Healthcare Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHCT. JPMorgan Chase & Co. raised its holdings in shares of Community Healthcare Trust by 24.4% during the 4th quarter. JPMorgan Chase & Co. now owns 403,945 shares of the real estate investment trust's stock worth $7,760,000 after buying an additional 79,116 shares in the last quarter. Geode Capital Management LLC raised its stake in Community Healthcare Trust by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 678,505 shares of the real estate investment trust's stock worth $13,037,000 after buying an additional 3,988 shares during the period. Wells Fargo & Company MN raised its stake in Community Healthcare Trust by 34.8% during the 4th quarter. Wells Fargo & Company MN now owns 16,974 shares of the real estate investment trust's stock worth $326,000 after buying an additional 4,386 shares during the period. Russell Investments Group Ltd. raised its stake in Community Healthcare Trust by 9.1% during the 4th quarter. Russell Investments Group Ltd. now owns 225,453 shares of the real estate investment trust's stock worth $4,331,000 after buying an additional 18,754 shares during the period. Finally, Invesco Ltd. raised its stake in Community Healthcare Trust by 1,232.9% during the 4th quarter. Invesco Ltd. now owns 603,674 shares of the real estate investment trust's stock worth $11,597,000 after buying an additional 558,384 shares during the period. 87.84% of the stock is owned by institutional investors and hedge funds.

Community Healthcare Trust Company Profile

Community Healthcare Trust Incorporated (the Company'', we'', our'') was organized in the State of Maryland on March 28, 2014. The Company is a fully-integrated healthcare real estate company that owns and acquires real estate properties that are leased to hospitals, doctors, healthcare systems or other healthcare service providers.